By Chris Prentice, Pete Schroeder, Svea Herbst-Bayliss and Michelle Price WASHINGTON (Reuters) – Trump transition team officials are considering retail brokerage Robinhood (NASDAQ:)’s top lawyer, as well as bank regulators and corporate attorneys, for a short list of key financial agency heads they expect to present to the president-elect soon, according to multiple people with knowledge of the matter. Among those being considered for chair of the Securities and Exchange Commission is Dan Gallagher, a Republican SEC commissioner from 2011 to 2015 who is currently chief legal and compliance officer at Robinhood, the people said. Gallagher, who is a popular…
Author: user
Block (NYSE:SQ) reported third-quarter earnings that met expectations, but revenue fell short of analyst estimates, sending shares down 10% in after-hours trading. The financial technology company, formerly known as Square, reported adjusted earnings per share of $0.88, in line with analyst projections. However, revenue for the quarter came in at $5.98 billion, missing the consensus estimate of $6.24 billion. Despite the revenue shortfall, Block saw strong growth in its key business segments. Gross profit grew 19% YoY to $2.25 billion, with Cash App generating $1.31 billion in gross profit, up 21% YoY, and Square contributing $932 million, a 16% YoY…
By Moira Warburton (Reuters) – For the second time in U.S. history, a major party nominated a woman for president and for the second time she lost. Democrat Kamala Harris’ election loss to Republican Donald Trump on Tuesday followed Hillary Clinton’s loss to him in 2016. Reasons for Harris’ loss were many – an Edison Research exit poll showed deep concerns about the state of the economy and people’s financial situation was a driving factor. But sexism persists. An October Reuters/Ipsos poll found a 55% majority of registered voters said sexism was a major problem in the U.S., while 15%…
Ferrari announced a significant sponsorship deal with IBM, establishing IBM as a ‘premium partner’ for Scuderia Ferrari on January 1, 2025. This partnership coincides with Lewis Hamilton’s eagerly awaited switch from Mercedes to Ferrari, marking the beginning of a new chapter for the team. The collaboration with IBM comes shortly after Ferrari’s title sponsorship agreement with Hewlett Packard (HP) earlier in the season, reflecting the team’s commitment to technological growth and enhancing fan engagement through digital transformation. The Ferrari-IBM partnership is set to redefine the fan experience both on and off the racetrack. By bringing IBM’s IT consulting and advanced…
Not for syndication. This article cannot be republished without the express permission of Business Expert Press (BEP). The following is adapted from the forthcoming Markets in Chaos: A History of Market Crises around the World by Brendan Hughes, CFA. I am concerned about the long-term health of the US dollar along with just about every other fiat currency in the world. Why? Because of the low interest rates, artificially inflated asset valuations, and soaring debt levels that followed the global financial crisis (GFC). How much has monetary policy changed since the GFC? In The Lords of Easy Money: How the Federal…
Mercedes-AMG, long associated with powerful V-8 and V-12 engines, is shifting its focus towards electric performance. The first major sign of this transformation came with the latest Mercedes-AMG C63 sports sedan, which abandoned its traditional 4.0-liter V-8 in favor of a hybrid system combining an electric motor with a 2.0-liter inline-four engine. This was followed by Mercedes’ announcement that AMG is developing its own dedicated electric car, previewed by the Vision AMG concept and spy photos. These moves signal a significant shift from the brand’s historic engine configurations towards more environmentally conscious and future-forward electric vehicles. The next step in…
Scilex Holding Co, a biopharmaceutical company, has received a warning from The Nasdaq Stock Market due to its stock price falling below the minimum required bid price for continued listing. The notice, received on November 1, 2024, indicates that Scilex’s common stock has not met the $1.00 minimum bid price for 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2). The company, which trades under the ticker symbol SCLX, has been given an initial period of 180 calendar days, or until April 30, 2025, to regain compliance with the minimum bid price requirement. During this time, Scilex’s stock…
Bitcoin surged to a new record high Nov. 6, riding a wave of optimism from investors who view President-elect Donald Trump’s win as a boost for the crypto market. In early trading, Bitcoin shot up 8 percent, notching a fresh all-time high at over $75,000, shattering its previous record from March. The cryptocurrency held onto most of its gains, reaching a new record high by late afternoon Wednesday, when it topped over $76,000. Other major cryptocurrencies joined in the rally, including Ethereum, the second-largest digital currency, which jumped 8 percent from Tuesday night through Wednesday morning before gaining another 8.5…
Interest rates are finally on the decline again, leaving investors considering where to focus their money next. At this point, the markets could tip in either direction, as the Fear and Greed Index sits at neutral right now, and economic and market pundits are sharing a wide array of commentary that calls for everything from a recession to a soft landing or even the potential for a continuation of greener pastures. Investing paraphernalia, including books about Warren Buffett, are displayed inside Stock Pickers, a … [+] tip-trading bar for investors in the Ginza district of Tokyo, Japan, on Monday, March…
Bentley has been transitioning to electrification for several years, starting with the 2018 release of the Bentayga Hybrid. The brand currently offers plug-in hybrid versions of the Continental GT and Flying Spur, with plans for its first fully electric vehicle to debut in 2026. This move is part of Bentley’s broader strategy to shift toward an electric future, reflecting both industry trends and changing consumer preferences. The upcoming electric vehicle will be a crossover SUV, described by Bentley’s new CEO Frank-Steffen Walliser as a “luxury urban SUV.” The vehicle is expected to be compact, measuring under 197 inches, which would…